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Exchange Income Corporation Announces the Completion of Its Redemption of Its Series J Debentures
Exchange Income Corporation Announces the Completion of Its Redemption of Its Series J Deb...
About this update from Exchange Income Corporation
[{"type":"text","content":"\n\n\n\nExchange Income Corporation Announces the Completion of Its Redemption of Its Series J Debentures\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nExchange Income Corporation Announces the Completion of Its Redemption of Its Series J Debentures\nCanada NewsWire\nWINNIPEG, July 13, 2016\n\n\n\nWINNIPEG, July 13, 2016 /CNW/ - Exchange Income Corporation (TSX: EIF) (the \"Corporation\"), a diversified, acquisition-oriented company focused on opportunities in aviation and manufacturing sectors today announced the completion of its redemption of its 7 year 6.25% Series J convertible senior secured debentures (the \"Series J Debentures\") outstanding on June 30, 2016 (the \"Redemption Date\").\n\nOn May 17, 2016, the Corporation issued a notice of redemption to the holders of the Series J Debentures to redeem all issued and outstanding Series J Debentures at a redemption price equal to their principal amount, plus accrued and unpaid interest thereon up to, but excluding, the Redemption Date. Holders of the Series J Debentures had the option to convert such debentures into common shares of the Corporation prior to the Redemption Date. Prior to the Redemption Date, $27,143,000 principal amount of Series J Debentures were converted into 887,015 common shares at a price of $30.60 per share. On June 30, 2016, the remaining outstanding Series J Debentures in the principal amount of $30,357,000 in were redeemed by the Corporation.\n\nAbout Exchange Income Corporation Exchange Income Corporation is a diversified acquisition-oriented company, focused in two sectors: aviation services and equipment, and manufacturing. The Corporation uses a disciplined acquisition strategy to identify already profitable, well-established companies that have strong management teams, generate steady cash flow and operate in niche markets.\n\nThe Corporation currently operates two segments: Aviation and Manufacturing. The Aviation segment consists of the operations by Perimeter Aviation, Keewatin Air, Calm Air International, Bearskin Lake Air Service, Custom Helicopters, Regional One and Provincial ...